US Stock markets in corrective upward trend, despite expectations for a 0.75 to 1 percent increase…
Two weeks left until the FOMC meeting and the possible increase of 0.75 to 1 percent of the interest rate, the US stock markets are fluctuating in an uptrend. Meanwhile, CPI data has supported interest rate hikes to control inflation, which…
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Friday’s bearish engulfing weighs on near-term action
WTI oil remains under pressure at the beginning of the week, following Friday’s 4% drop (the biggest one-day loss since Sep 23) and continuing to pressure pivotal support at $84.92 (daily Kijun-sen / 50% retracement of $76.25/$93.60 rally).…
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Near-term action looks for clearer direction signals
The Euro is standing at the front foot in early European trading on Monday, following a large swings on Thu/Fri.
The action was repeatedly capped by falling 10DMA which reinforces a Fibo barrier at 0.9772 (38.2% of 0.9999/0.9631 bear-leg),…
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Japanese authorities may intervene as USDJPY rose to 32-year high
The USDJPY is consolidating under new 32-year high (148.85), following strong bullish acceleration last Friday, which broke and closed above key barrier at 147.68 (1998 peak).
The pair advanced 2.3% last week (the biggest weekly rally…
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Dollar takes a breather but remains robust as Fed stays on aggressive path
The dollar index edged higher in European trading on Friday, regaining traction after Thursday’s 0.7% drop.
Unexpected drop was sparked by revived risk appetite, despite the latest report showed US inflation rose above expectations in…
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US inflation rises above expectations in September
Inflation in the United States remained red-hot and rose above expectations in September, fueling expectations for another Fed’s big rate hike.
Monthly consumer price index rose by 0.4% in September from 0.1% previous month, doubling…
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Cable in a mixed mode on conflicting UK fundamentals, awaiting US inflation data
Cable is consolidating above two important supports at 1.1053/50 (Fibo 38.2% of 1.0348/1.1490 / psychological) following a short-lived dip below these levels and a quick rebound on Wednesday.
Near-term sentiment is mixed, as the Bank of…
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USDJPY rises to new multi-year high, eyes 1998 peak
Fresh bullish acceleration broke above previous 24-year peak at 145.90, pushing the price to new multi-year highs in European trading on Wednesday.
Bullish continuation after a limited pullback, sparked by Japan’s intervention in…
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UK economy contracts in August, adding to risk of recession
The UK gross domestic product data showed that the economy contracted by 0.3% in August, against expectations for zero growth and vs 0.2% expansion in July.
Annualized figure pointed to continuous and strong slowdown in economic growth,…
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Gold extends steep downtrend as dollar firms
Spot gold hits one-week low in European trading on Tuesday, in extension of Monday’s 1.6% fall, holding in a steep downtrend for the fifth straight day.
Near-term action remains pressured by risk aversion that continues to lift dollar, in…
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